This newly declared microcountry wants to become the world's foremost tax haven

The world’s newest microcountry wants to become its foremost tax
haven.

Liberland, which sits on 2.7 square miles of
land along the Danube River between Serbia and Croatia, was
founded earlier this month and plans to have only voluntary
taxes.

"We don’t want the state to take
money from the people," Vít Jedlička, a native of Prague and
Liberland's new president, told Business Insider in a phone
interview. "We want to have voluntary taxes."

Elected into office by a three-person committee,
Jedlička says he started Liberland to “turn the concept of a
state upside down.”

After working as a financial analyst
in the Czech Republic, Jedlička became motivated by
ever-increasing taxes and regulations to
claim a plot of land that neither Serbia nor
Croatia already have.

Residents and visitors of the
new country will be allowed to use any money of their choice,
including crypto currencies like Bitcoin, to buy and sell goods
and complete other transactions within Liberland.

"People will not be bound to any currency," Jedlička
told us.

Jedlička says he has already been approached
with offers to set up currency and stock exchanges, both of which
would be virtual in the mold of Nasdaq.

Liberland sits on a tiny
plot of land along the Danube River between Serbia and
Croatia.Business
Insider

The only functions of
government will be to defend the republic, which will be a
representative democracy, and to maintain law and order,
according to Jedlička, who's a Libertarian.

"These two things we consider the most important
roles of the state," he said, adding that drugs will
be illegal "to maintain good relations with neighboring
countries."

There will be no social welfare programs like
healthcare and pensions, and the government will not be allowed
to run with a deficit. Any law can be vetoed by
referendum.

Right now, the plot of land is largely undeveloped
but Jedlička insists that multiple architects
have contacted him about planning the infrastructure and
buildings of Liberland.